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The anchoring bias, or focalism, is the tendency to rely too heavily—to "anchor"—on one trait or piece of information when making decisions (usually the first piece of information acquired on that subject). [11] [12] Anchoring bias includes or involves the following:
Kahneman suggests that anchoring occurs from derivations from anchor-consistent knowledge. In their paper on anchoring bias [75] Kahneman and Tversky showed that people judgements could be skewed either higher or lower when presented with random numbers either high or low before their prediction.
Anchoring results in a particularly strong bias when estimates are stated in the form of a confidence interval. An example is where people predict the value of a stock market index on a particular day by defining an upper and lower bound so that they are 98% confident the true value will fall in that range.
A graphic organizer, also known as a knowledge map, concept map, story map, cognitive organizer, advance organizer, or concept diagram, is a pedagogical tool that uses visual symbols to express knowledge and concepts through relationships between them. [1]
Spider mapping, sometimes called a semantic map, is a graphic organizer or concept map that can be used for brainstorming ideas, aspects, and thoughts typically on a single theme or topic. It is used to sort and evaluate multiple ideas and to show relationships between ideas.
The terrain of the Pacific Northwest, for example, is rugged and steep. “The majority of this ground still requires workers who have a much greater exposure to hazards than someone in a machine .”
The Cognitive Bias Codex. A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. [1] Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world.
Image source: Getty Images. 1. Lockheed Martin. After its stock price reached an all-time high earlier this year, Lockheed Martin and its defense contractor peers have sold off considerably over ...